Uncertainty over capital gains changes puts taxpayers in Kafkaesque world

Taxpayers face a substantive—and controversial—change to the tax system advanced by an unpopular government that tried and failed to get it passed before prorogation.

Finance Minister Dominic LeBlanc. The best solution to the capital gains problem would be for the government to drop the proposals altogether. The Hill Times photograph by Andrew Meade

Opinion

BY JOHN TOBIN, CARL IRVINE

January 30, 2025

The Canada Revenue Agency recently announced that it intends to administer taxes for 2024 based on the notice of a Sept. 23, 2024, ways-and-means motion to amend the Income Tax Act, which would have increased the capital gains inclusion rate from 50 per cent to 66.67 per ce...

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